The vision for Planning for Prosperity from the very beginning was to create a financial planning practice with a distinct difference; a business focused on listening to clients, developing strategies to achieve personal goals and building strong long term relationships. We promise to deliver the highest standard of service to all clients.
Financial Planning Process
The most important part of our planning process is taking the time to gain a thorough understanding of your individual financial goals and personal needs, because everybody is different and your financial plan should reflect this.
To do this we need more than the usual 45 minute meeting that most planners offer, because such a short meeting can do little more than pigeon hole you into a stereotypical group. We study your situation in depth after gathering information - not only about your financial situation but what you really want out of life.
Why? Because it is vital that we uncover your financial needs, lifestyle goals and the specific risks you face. Without this information any recommendations provided would be inherently faulty, kind of like giving you a road map for Spain when you’re trying to get from Melbourne to Adelaide.
Once we have all your information we’ll provide you with the honest facts. We spend a great deal of time formulating a unique and comprehensive financial plan which is tailored to your specific goals and objectives. This becomes your own financial road map.
Due to the level of detail involved these plans can take in excess of 30 hours to complete – much longer and more detailed than your typical generic financial plan.
Solutions Based Advice
We want you to know that your financial plan will be based solely on your needs and objectives, not on financial products or the commissions paid by product providers.
We seek to find solutions to you financial problems and in many cases the best solution for your situation may not involve a financial product (such as a managed funds) at all.
One of the most common challenges our clients face is managing tax. So our advice includes strategies to give you the most tax effective and efficient results in your portfolio.
Our expert advice is our service to you. Sometimes we may recommend financial products but only when they meet your specific needs. Our service is based on our knowledge and experience so there are no hidden commissions for financial products in our fee structure.
Fee Structure
Unlike the majority of financial planning organizations our fee structure is transparent and deliberately structured that way to ensure that what’s best for the client always comes first.
Many financial planners are remunerated by commission from the providers of the financial products they sell (managed funds, insurance policies, superannautaion etc...) . While this allows them to charge a small upfront fee it can create an underlying conflict or bias.
Although we're sure that most planners have only your best interests at heart, they also need to earn a living. What if it was a choice between investing in managed funds or buying a rental property? A commission based planner receives a commissions if you purchase a financial product (such as managed funds within an account) but nothing if you buy a rental property. If you were a planner would it affect your decision?
Financial Planning Process
The most important part of our planning process is taking the time to gain a thorough understanding of your individual financial goals and personal needs, because everybody is different and your financial plan should reflect this.
To do this we need more than the usual 45 minute meeting that most planners offer, because such a short meeting can do little more than pigeon hole you into a stereotypical group. We study your situation in depth after gathering information - not only about your financial situation but what you really want out of life.
Why? Because it is vital that we uncover your financial needs, lifestyle goals and the specific risks you face. Without this information any recommendations provided would be inherently faulty, kind of like giving you a road map for Spain when you’re trying to get from Melbourne to Adelaide.
Once we have all your information we’ll provide you with the honest facts. We spend a great deal of time formulating a unique and comprehensive financial plan which is tailored to your specific goals and objectives. This becomes your own financial road map.
Due to the level of detail involved these plans can take in excess of 30 hours to complete – much longer and more detailed than your typical generic financial plan.
Solutions Based Advice
We want you to know that your financial plan will be based solely on your needs and objectives, not on financial products or the commissions paid by product providers.
We seek to find solutions to you financial problems and in many cases the best solution for your situation may not involve a financial product (such as a managed funds) at all.
One of the most common challenges our clients face is managing tax. So our advice includes strategies to give you the most tax effective and efficient results in your portfolio.
Our expert advice is our service to you. Sometimes we may recommend financial products but only when they meet your specific needs. Our service is based on our knowledge and experience so there are no hidden commissions for financial products in our fee structure.
Fee Structure
Unlike the majority of financial planning organizations our fee structure is transparent and deliberately structured that way to ensure that what’s best for the client always comes first.
Many financial planners are remunerated by commission from the providers of the financial products they sell (managed funds, insurance policies, superannautaion etc...) . While this allows them to charge a small upfront fee it can create an underlying conflict or bias.
Although we're sure that most planners have only your best interests at heart, they also need to earn a living. What if it was a choice between investing in managed funds or buying a rental property? A commission based planner receives a commissions if you purchase a financial product (such as managed funds within an account) but nothing if you buy a rental property. If you were a planner would it affect your decision?
These commissions are generally based on a percentage of the funds invested. While the percentage charged might be low (say 1%), the dollar value being charged might end up being quite quite high compared to the ongoing advice that is provided (or not provided). Alternatively, if it is a relatively small account balance, the percentage charged will equate to a very low dollar amount. This is not a profitable exercise for the planner either, and encourages them to take on many clients in order to make enough money.
In fact some firms can take on 1000’s of clients per planner. How personal can the service be when your planner is supposedly servicing a multitude of other clients at the same time? You’d consider yourself lucky if they can ever remember your name let alone your specific financial circumstances.
We do not offer this production line and generic service that our industry has adopted over the years. We limit our client intake to approximately 150 per planner to make sure every client gets the attention they deserve.
And because we have fewer clients it enables us to be more pro – active in our approach. As legislation changes and new strategies or innovative products arrise, we are always thinking of which clients this might benefit and whether there is a match.
We also ensure that everyone is treated fairly and equally based on their needs regardless of their account size. Some firms seek to service only the ‘big fish’ because they base their fee structure on a percentage of funds under management and small investors are seen as hardly worth the effort.
We’re different. We think that even if you don’t have millions to invest, you may still have needs and are entitled to the highest level of service. Our fees aren’t based on your account balance or net worth but on your financial needs, so as your wealth grows you could be paying less, not more. To find out more about our fee structure give one of our friendly team a call or click here to register for a free first appointment.
Investment Philosophy
When it comes to investing we have a simple and effective investment philosophy. We do not believe in constructing expensive portfolios with that appear to be well diversified with many sexy managed funds (which often underperform the market anyway). Our philosophy is to use investments that are extremely cost effective, well diversified with greatly reduced 'unsystematic risks' (that is- the risk component of a return not related to the market return). Best of all, they offer very competitive market returns over the long term.
We don’t hold ourselves out to be ‘investment gurus’, as that is an art in itself. We like to keep it simple, safe but effective. With that said, we make take a broader approach and focus on the client's overall financial strategy. Often this is where the biggest difference is made - not with the underlying investments alone.
Are we right for you?
We provide a comprehensive financial planning service covering all stages of your life but in addition to this we have special knowledge in the areas of:
In fact some firms can take on 1000’s of clients per planner. How personal can the service be when your planner is supposedly servicing a multitude of other clients at the same time? You’d consider yourself lucky if they can ever remember your name let alone your specific financial circumstances.
We do not offer this production line and generic service that our industry has adopted over the years. We limit our client intake to approximately 150 per planner to make sure every client gets the attention they deserve.
And because we have fewer clients it enables us to be more pro – active in our approach. As legislation changes and new strategies or innovative products arrise, we are always thinking of which clients this might benefit and whether there is a match.
We also ensure that everyone is treated fairly and equally based on their needs regardless of their account size. Some firms seek to service only the ‘big fish’ because they base their fee structure on a percentage of funds under management and small investors are seen as hardly worth the effort.
We’re different. We think that even if you don’t have millions to invest, you may still have needs and are entitled to the highest level of service. Our fees aren’t based on your account balance or net worth but on your financial needs, so as your wealth grows you could be paying less, not more. To find out more about our fee structure give one of our friendly team a call or click here to register for a free first appointment.
Investment Philosophy
When it comes to investing we have a simple and effective investment philosophy. We do not believe in constructing expensive portfolios with that appear to be well diversified with many sexy managed funds (which often underperform the market anyway). Our philosophy is to use investments that are extremely cost effective, well diversified with greatly reduced 'unsystematic risks' (that is- the risk component of a return not related to the market return). Best of all, they offer very competitive market returns over the long term.
We don’t hold ourselves out to be ‘investment gurus’, as that is an art in itself. We like to keep it simple, safe but effective. With that said, we make take a broader approach and focus on the client's overall financial strategy. Often this is where the biggest difference is made - not with the underlying investments alone.
Are we right for you?
We provide a comprehensive financial planning service covering all stages of your life but in addition to this we have special knowledge in the areas of:
- Self Managed Super
- Financial independence for business owners and;
- The special requirements of agricultural / farming businesses
We also have a dedicated planner to advise younger clients interested in getting ahead early and planning for their financial future now.
We are based in Adelaide but we’re happy to assist country or regional clients, whether that involves phone consultations or even travelling out to your area.
If you’re interested in talking to us at Planning for Prosperity to see how we can help you reach your financial goals, please gives us a call or leave your details in the form below. You’ll be pleased to know that your first appointment is free.
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